Quebec lives on the line of credit. This gives the illusion of some wealth, but Taking is never far away. Looks like someone bipolar after a frenzy of spending out of control, he invariably finds himself in a depressive state where he must find as quickly as possible the billions who will balance its budget.
Between 2003-2004 and 2009-2010 budgets, the government Increased its spending program (services to the population) from 45 billion to 60 billion dollars. We are talking about a 33% increase in expenditure is four times the growth of the economy. This pace is unsustainable, especially as only 18.8 billion dollars were withdrawn from the current government to find directly on the debt. The 42 billion dollars in Quebec plans to spend 2013-2014 to boost the economy will also Widen its debt, Which we must add about $ 4 billion deficit by year accumulate by then. The debt then represent half of the Quebec economy, an alarming level.
The fiscal position is also near a precipice. In 2013-2014, the government will spend $ 8 billion more for its expenditure program this year and the debt service will reach 9.4 billion dollars, 3.3 billion more. Make your accounts: this is additional expenditure of almost $ 12 billion. In his last budget, the government has submitted a very cheerful view of the situation. The fight in the black, the increase of costs of government services and the increase in QST in 2011 should fill $ 8 billion. Even in this version euphoric, missing 4 billion.
The reality is that we need additional revenues of 12 billion or decreases in comparable cost within four years. This command spectacular in a society where the state is seen as benevolent, omnipotent and untouchable. Quebecers will have to bear in mind that debt is a cruel trap that destroys all their ambitions and Undermine all their energies.
Between 2003-2004 and 2009-2010 budgets, the government Increased its spending program (services to the population) from 45 billion to 60 billion dollars. We are talking about a 33% increase in expenditure is four times the growth of the economy. This pace is unsustainable, especially as only 18.8 billion dollars were withdrawn from the current government to find directly on the debt. The 42 billion dollars in Quebec plans to spend 2013-2014 to boost the economy will also Widen its debt, Which we must add about $ 4 billion deficit by year accumulate by then. The debt then represent half of the Quebec economy, an alarming level.
The fiscal position is also near a precipice. In 2013-2014, the government will spend $ 8 billion more for its expenditure program this year and the debt service will reach 9.4 billion dollars, 3.3 billion more. Make your accounts: this is additional expenditure of almost $ 12 billion. In his last budget, the government has submitted a very cheerful view of the situation. The fight in the black, the increase of costs of government services and the increase in QST in 2011 should fill $ 8 billion. Even in this version euphoric, missing 4 billion.
The reality is that we need additional revenues of 12 billion or decreases in comparable cost within four years. This command spectacular in a society where the state is seen as benevolent, omnipotent and untouchable. Quebecers will have to bear in mind that debt is a cruel trap that destroys all their ambitions and Undermine all their energies.
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